Adslot Confirmed Symphony Technology Activation In Thailand

Adslot Confirmed Symphony Technology Activation In Thailand

The Melbourne-based company, Adslot Limited (ASX: ADJ), formerly known as Webfirm Group Limited, is a company offering trading technology and digital marketing services to publishers, agencies, brands, and integrated technologies across Australia, North America, Europe and worldwide. It has three flagship products as follows: Adslot, a tool for advertisers and publishers to trade high-quality display advertising directly and find potential collaborations, Symphony, a workflow platform for media agencies and Webfirm which provides Website design, hosting, search engine optimisation and social media marketing services. 

On February 13th, 2019, the company announced the completion of the activation of its Symphony digital media platform for Group M agencies in the Thailand market. According to the multi-market agreement signed between Adslot and world’s leading advertising company Group M, it is the fifteenth market to be activated. The provision involves payment of an Activation Fee to the company along with the ongoing License Fees to commence in March 2019.

Before this, at the beginning of the month, the same technology was deployed in the Philippines market depicting the first of three activations in the Asia Pacific (APAC) region scheduled for the first quarter ending March 2019. The company is on an expansion spree to launch Symphony across further markets in APAC, Europe, Middle-East and Africa over the coming months in 2019.

For the quarter ended December 31st, 2018, cash receipts from customers amounted to $ 3.65 million, up $0.65 million or 22% on the previous quarter’s figure of $3.0 million. There were large cash burns recorded from operating activities at AUD 1.19 million mainly due to staff costs, research and development expenses, and working capital overheads. The investing activities were at a minuscule level while cash outflow from financing activities stood at AUD 32,000. However, overall, the net increase in cash and cash equivalents was recorded at AUD 4.82 million. In January 2019, the company also received a cash receipt of $2.99 million from the R&D rebate Scheme for FY2018. The company forecasts cash outflows for the next quarter to be around AUD 8.61 million.

The financial year 2017-18 had remained bleak with average business performance, reductions in License and trading fees, and other contributing factors to low revenue, down by 11%. Thus, the company had been planning a couple of in-depth strategic moves and launched a cost-reduction program including job-cuts by 20% and savings recorded at more than $2 million per annum.

At the end of the trading session (as at Wednesday, February 13th, 2019), the ADJ stock price stood at AUD 0.044. Currently, Adslot has a market capitalisation of AUD 61.4 million on the Australian Securities Exchange with around 1.43 billion outstanding shares. The stock has 52- weeks high of AUD 0.060 and a 52- weeks low of AUD 0.020. The stock fared well during the last six months and performed well in terms of return yield which remained positive throughout at 53.57%. With minor fluctuations, the stock has also generated a positive YTD return of 4.88%.


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